My working paper, papers.ssrn.com/sol3/papers...., describes the practice by pre-IPO companies of granting stock options to executives while preparing to go public. The options feature substantially lower exercise prices relative to the IPO price, thus producing a windfall potential to executives.
My working paper, papers.ssrn.com/sol3/papers...., describes the practice by pre-IPO companies of granting stock options to executives while preparing to go public. The options feature substantially lower exercise prices relative to the IPO price, thus producing a windfall potential to executives.